GoodRx (NASDAQ:GDRX) Rating Lowered to Sector Perform at Royal Bank of Canada

Royal Bank of Canada lowered shares of GoodRx (NASDAQ:GDRXGet Rating) from an outperform rating to a sector perform rating in a research report report published on Tuesday morning, The Fly reports. They currently have $8.00 price objective on the stock, down from their previous price objective of $35.00.

A number of other analysts also recently commented on GDRX. Cowen downgraded GoodRx from an outperform rating to a market perform rating and decreased their target price for the stock from $49.00 to $22.00 in a research report on Tuesday, March 1st. Deutsche Bank Aktiengesellschaft cut their price target on GoodRx from $25.00 to $20.00 and set a hold rating for the company in a report on Wednesday, March 2nd. Guggenheim initiated coverage on GoodRx in a research note on Wednesday, April 6th. They issued a buy rating and a $24.00 target price for the company. Zacks Investment Research upgraded GoodRx from a strong sell rating to a hold rating in a research note on Tuesday, May 3rd. Finally, Wells Fargo & Company initiated coverage on GoodRx in a research note on Monday, April 11th. They set an equal weight rating and a $20.00 price target for the company. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Hold and an average target price of $24.89.

NASDAQ:GDRX opened at $8.90 on Tuesday. The company has a current ratio of 13.42, a quick ratio of 13.42 and a debt-to-equity ratio of 0.79. GoodRx has a 12-month low of $7.33 and a 12-month high of $48.05. The firm has a market cap of $3.57 billion, a P/E ratio of -222.50, a PEG ratio of 2.76 and a beta of 0.29. The stock’s 50 day simple moving average is $16.01 and its 200-day simple moving average is $26.66.

GoodRx (NASDAQ:GDRXGet Rating) last posted its quarterly earnings results on Monday, May 9th. The company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.01. GoodRx had a positive return on equity of 2.82% and a negative net margin of 1.86%. The firm had revenue of $203.30 million for the quarter, compared to the consensus estimate of $200.61 million. During the same period in the previous year, the business earned ($0.01) earnings per share. The company’s revenue for the quarter was up 26.7% compared to the same quarter last year. Research analysts forecast that GoodRx will post 0.17 EPS for the current fiscal year.

Several institutional investors have recently modified their holdings of GDRX. Darlington Partners Capital Management LP acquired a new stake in shares of GoodRx in the fourth quarter worth $52,276,000. Marshall Wace LLP raised its holdings in shares of GoodRx by 1,221.4% during the third quarter. Marshall Wace LLP now owns 986,072 shares of the company’s stock worth $40,448,000 after acquiring an additional 911,446 shares in the last quarter. Petrus Trust Company LTA purchased a new stake in shares of GoodRx during the third quarter worth $32,047,000. Goldman Sachs Group Inc. raised its holdings in shares of GoodRx by 62.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,939,071 shares of the company’s stock worth $63,369,000 after acquiring an additional 742,906 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of GoodRx during the fourth quarter worth $23,049,000. 52.60% of the stock is owned by institutional investors and hedge funds.

About GoodRx (Get Rating)

GoodRx Holdings, Inc, through its subsidiaries, offers information and tools that enable consumers to compare prices and save on their prescription drug purchases in the United States. The company operates a price comparison platform that provides consumers with curated, geographically relevant prescription pricing, and access to negotiated prices through GoodRx codes that are used to save money on prescriptions across the United States.

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